The U.S. government has granted fast-track status to the Resolution Copper project in Arizona, jointly owned by Rio Tinto (RIO) and BHP Group (BHP, Financial). This initiative is part of a broader effort to expedite the approval process for key infrastructure projects.
The Resolution Copper mine is one of ten projects to be awarded the "Fast-41" status, an initiative designed to streamline federal approvals and reduce the time required to commence such ventures. This designation is expected to significantly benefit the mining project by accelerating development timelines, potentially bolstering supply chains and economic growth within the region.
Wall Street Analysts Forecast
Based on the one-year price targets offered by 4 analysts, the average target price for BHP Group Ltd (BHP, Financial) is $52.38 with a high estimate of $58.00 and a low estimate of $49.00. The average target implies an upside of 12.66% from the current price of $46.49. More detailed estimate data can be found on the BHP Group Ltd (BHP) Forecast page.
Based on the consensus recommendation from 6 brokerage firms, BHP Group Ltd's (BHP, Financial) average brokerage recommendation is currently 2.0, indicating "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Based on GuruFocus estimates, the estimated GF Value for BHP Group Ltd (BHP, Financial) in one year is $52.69, suggesting a upside of 13.34% from the current price of $46.49. GF Value is GuruFocus' estimate of the fair value that the stock should be traded at. It is calculated based on the historical multiples the stock has traded at previously, as well as past business growth and the future estimates of the business' performance. More detailed data can be found on the BHP Group Ltd (BHP) Summary page.
